Tyra Biosciences (NASDAQ:TYRA) Trading Down 4.7% – Here’s Why

Tyra Biosciences, Inc. (NASDAQ:TYRA) was down 4.7% during trading on Monday . The company traded as low as $11.11 and last traded at $10.96. Approximately 29,593 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 293,406 shares. The stock had previously closed at $11.50.

Analyst Ratings Changes

A number of research analysts have commented on TYRA shares. UBS Group started coverage on shares of Tyra Biosciences in a research report on Tuesday, January 7th. They issued a “buy” rating and a $28.00 target price on the stock. HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of Tyra Biosciences in a research note on Tuesday, February 18th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $30.50.

Tyra Biosciences Price Performance

The company has a market capitalization of $550.56 million, a PE ratio of -6.76 and a beta of 1.09. The stock’s 50 day simple moving average is $13.34 and its 200-day simple moving average is $16.91.

Insider Buying and Selling

In other Tyra Biosciences news, Director Nina S. Kjellson sold 5,401 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $13.76, for a total value of $74,317.76. Following the transaction, the director now directly owns 443,885 shares in the company, valued at $6,107,857.60. This represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have sold 21,998 shares of company stock worth $344,818. Company insiders own 15.40% of the company’s stock.

Hedge Funds Weigh In On Tyra Biosciences

Several hedge funds have recently added to or reduced their stakes in TYRA. Polar Asset Management Partners Inc. boosted its holdings in shares of Tyra Biosciences by 26.1% in the fourth quarter. Polar Asset Management Partners Inc. now owns 111,107 shares of the company’s stock valued at $1,544,000 after acquiring an additional 23,007 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Tyra Biosciences by 41.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,635 shares of the company’s stock valued at $495,000 after acquiring an additional 10,426 shares during the period. Vestal Point Capital LP acquired a new stake in shares of Tyra Biosciences in the fourth quarter valued at approximately $13,761,000. Squarepoint Ops LLC acquired a new stake in shares of Tyra Biosciences in the fourth quarter valued at approximately $253,000. Finally, Two Sigma Advisers LP acquired a new stake in shares of Tyra Biosciences in the fourth quarter valued at approximately $171,000. 84.14% of the stock is currently owned by hedge funds and other institutional investors.

Tyra Biosciences Company Profile

Tyra Biosciences, Inc, a clinical-stage biotechnology company, develops precision medicines for fibroblast growth factor receptor (FGFR) biology in the United States. The company offers SNÅP, a precision medicine platform that enables drug design through iterative molecular snapshots to predict genetic alterations for developing therapies targeting oncology and genetically defined conditions.